Frequently Asked Questions

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HSA

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If I elect the HSA medical plan, will Sysco deposit the full yearly contribution to my account in early January or will it spread out in monthly or per-paycheck contributions?

Sysco will
contribute to your HSA account up front to get you started. Sysco will
automatically contribute $250 if you select Associate Only coverage or $500 if
you cover other family members. Then, you can make pre-tax contributions from
your paycheck to build your savings to pay for healthcare now or in the future.
If you have not opened your account already, be sure to complete the activation
of your HSA to fully open your account.

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Can I open an HSA with one of the other Sysco-sponsored medical plans?

No. To be eligible to open an HSA, you must be enrolled in the Sysco HSA medical plan. This is an IRS regulation. In addition, you cannot:

Be enrolled in Medicare

‍Receive health benefits under Tricare

‍Have received Veteran’s Administration benefits in the last three months

‍Be claimed as a dependent on another person’s tax returns

Use a Flexible Spending Account (FSA) or Health Reimbursement Account (HRA); only a Limited Use FSA is permitted

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How do I make contributions to my HSA?

During benefits enrollment you will select the amount you would like to contribute to your HSA, up to the 2019 IRS limit of $3,500 for individuals and $7,000 for families. The amount you choose will then be deducted from your paychecks.

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Is the company contribution included in the IRS annual limit for the HSA?

Yes. Any contributions made by Sysco are counted toward your annual IRS limit on the HSA contribution amount.

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What are my investment options with the HSA?

Fidelity administers the HSA plan. They offer easy access to your account and excellent customer service. Once you’ve set up your account, you may contact Fidelity to ask about investment options.

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Is it possible to have an FSA along with my HSA medical plan?

You cannot have a traditional health care FSA; however, you can have a Limited Use FSA. A Limited Use FSA is used to pay for out-of-pocket dental and vision expenses only.

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What is the difference between an HSA and an FSA?

The primary difference between a Health Savings Accounts (HSA) and a Flexible Spending Accounts (FSA) is that money contributed to an HSA carries forward to the following year if unused. In contrast, FSAs are “use it or lose it”. Also, in order to take advantage of the HSA you need to be enrolled in the Sysco HSA medical plan.

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Do I have to prove my expenses are qualified health expenses for the HSA?

You should maintain records and keep your receipts in case the IRS would audit your account and spending.

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What happens to my HSA if I leave Sysco or if I choose another medical plan in the future?

If you should leave Sysco or choose another medical plan in the future, the money in the account is yours to keep.

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Do I lose the money in my HSA at the end of the year if I haven’t used it?

No. An HSA is not a use it or lose it account like an FSA. One of the advantages of an HSA is that any used money at the end of the year carries forward to the next year and beyond.

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What is the advantage of enrolling in the Limited Use FSA in addition to the HSA?

The Limited Use FSA gives you an extra pre-tax savings option. However, it’s important to note that the Limited Use FSA can only be used for dental and vision expenses and is only for those associates enrolled in the HSA medical plan.

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Should I be conservative in contributing to the HSA?

For participants in Flexible Spending Accounts, we advise to contribute conservatively, especially at first because it is a use it or lose it model. For associates contributing to the HSA, any money that remains in your account at the end of the year, carries forward to the next year. This means that you don’t have to worry about losing any money from year to year.

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The 2018 Wellness Rewards Program window ended on November 1, 2017. If you and your spouse completed the requirements by November 1, 2017, and earned your Wellness Reward for 2018, your reward will be deposited in your healthcare expense account in January 2018! Don’t be concerned if your Wellness Reward amount is not displayed in the enrollment system on the Total Rewards Café in 2017. Your 2018 Wellness Reward amount will not appear in the system until January 2018.

Please note: If you and your spouse completed the requirements early — by October 1, 2017 — and did not choose to receive your reward a different way during 2018 Benefits Enrollment, you will receive your reward as a credit to the medical plan premium taken from your paycheck each pay period in 2018.

Watch for information about the 2019 Wellness Rewards Program coming soon!